Jefferies Healthcare Conference

June 24, 2008

Patients | Growth | People

2

Safe Harbor Disclaimer

A copy of this presentation is available on our website at www.questdiagnostics.com

•This presentation may contain forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the Company include, but are not limited to, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors discussed in “Business” in Part I, Item 1, “Risk Factors” and “Cautionary Statement for Purposes of the ‘Safe Harbor’ Provisions of the Private Securities Litigation Reform Act of 1995” in Item I, Part 1A, “Legal Proceedings” in Part I, Item 3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A in the Quest Diagnostics 2007 Annual Report on Form 10-K and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Quantitative and Qualitative Disclosures About Market Risk” in the Company’s 2008 Quarterly Reports on Form 10-Q and other items throughout the Form 10-K and the Company’s 2008 Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Patients | Growth | People

3

Who is Quest Diagnostics?

•Leader in Providing Healthcare Insights and Solutions

• Comprehensive Diagnostic Testing• Routine ——» Esoteric

• Diagnose• Monitor• Predict• Prevent

–Advanced Information Technology Solutions• Improve Care and Efficiency

–Facilitate Introduction of New Therapeutics• Clinical Trials Testing

–Innovative Diagnostic Products• Enable Care Closer to the Patient

–Risk Assessment Solutions to Life Insurance Industry

Touching Patients ~150 Million Times Each Year

Patients | Growth | People

4

The Leader in Diagnostic Testing

Source: Washington G-2 Reports and company information

$ in millions

• U.S. Diagnostic Testing Market: >$45 B

Patients | Growth | People

5

Consistently Strong Growth

• #11 Fortune 500 Ranking: 10-year Total Shareholder Return

18%Revenue 1999-200710-year CAGR 18%

25%EPS 1999-2007

10-year CAGR 25%

Fortune Ranking based on years 1997-2006

Patients | Growth | People

6

Favorable Industry Trends

• Growing and Aging Population

• Scientific & Medical Innovations

• Personal Interest in Health

• Convergence of Information

Essential Healthcare Service

Influences >70% of Healthcare Decisions

Patients | Growth | People

7

Moving to Higher Growth,Higher Margin Segments

2007 Pro Forma Revenue2000 Revenue

Total Pro Forma Revenue: $7.0 BillionTotal Revenue: $3.4 Billion

Patients | Growth | People

8

Expanding Market Leadership

• Clinical Testing• Gene-based & Esoteric Testing• Employer Services• Anatomic Pathology Testing• Risk Assessment Services • Healthcare Information Technology• Point of Care (Near Patient) Testing• Clinical Trials Testing• International Market

•••• P• -• -• -• P• -

•••••••• P• P

2000 2008

Overall Market Leader/Niche LeadershipP Market Participant

Patients | Growth | People

9

Our Goals

•Undisputed World Leader in Diagnostic Testing,Information and Services

•Profitably Grow > Industry Rate

•Expand Operating Income to 20%

•Expand International Operations to ~10% of Revenues

Patients | Growth | People

10

Strategy to Drive Profitable Growth

Deliver Superior Patient Experience

Continuously Drive Six Sigma Quality

Lead in Medical Innovation/Information

Leverage Unparalleled Assets & Capabilities

Expand Diagnostic Scope

Expand Geographic Reach

Sustainable Competitive Advantage

Patients | Growth | People

11

Leading Medical Innovator

Unmatched Medical & Technical Expertise

Multiple Channels to Access New TechnologyInternal Development – Nichols InstituteJoint Development RelationshipsLicensing/Distribution Relationships

Most Comprehensive Test MenuLeader in Cancer, CVD & Infectious Disease TestingPioneer in Molecular Diagnostics, LC-MS/MS & Micro-array

Leading Experts for Medical Consultation900 MDs & PhDs>30 Academic Associates

Broadest Product and Service Offering

Patients | Growth | People

12

Unparalleled Assets and Capabilities

Patients | Growth | People

13

Reducing Costs by $500 Million

Streamline Lab Operations

Optimize Logistics Routes and PSC Resources

Improve Billing and Call Center Operations

Leverage Purchasing Capabilities

Maintain Service Levels & Stimulate Growth

Leverage Lean Six Sigma to Improve Efficiency

Patients | Growth | People

14

2008 / 2009 Focus

• Drive Top-Line Growth

• Integrate AmeriPath

• Reduce Costs by $500 Million

• Expand International and Products Businesses

Excellence in Execution

Margin Expansion and Earnings Growth

Patients | Growth | People

15

Building on Strength

Industry Leader in a Vital and Growing Industry

A History of Disciplined Growth

Track Record of Successfully Integrating Acquisitions

Strong Cash Generator

Proven Management Team

Uniquely Positioned with Unparalleled Assets & Capabilities

Focused on Execution

Patients | Growth | People

16